Disposed¶210

M/s Landt Fincorp Limited, v. M/s Vmc Systems Limited

Telangana HC4 Feb 2026CP/157/2016

Case brief

AI extract

What is this about?

Companies Act 1956 winding-up; M/s VMC Systems Limited; Telangana High Court; company petitions closed as infructuous; NCLT dissolution order dated 20.02.2024; IA (IBC) No.528 of 2022; Cont.A(IBC) No.31 of 2023; CP(IB) No.677/7/HDB/2018; liberty to pursue alternative remedy; petitioners Micro Plastics Pvt Ltd, Wealthtree Advisors, Sojitz Corporation, Economic Law Practice, Suravarapu, L&T Infrastructure Finance Company, AMAX Technologies, L&T Fincorp; order dated 04.02.2026; Justice T. Madhavi Devi.

What did the court decide?

No substantive relief adjudicated; the company petitions were closed, leaving the petitioners free to pursue any alternative remedy available to them in accordance with law. ¶210

M/s Landt Fincorp Limited, Vs M/s Vmc Systems Limited — Company and Corporate | Telangana HC (2026)

¶1

[³²¹⁹ ]

¶2

IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD

¶3

WEDNESDAY, THE FOURTH DAY OF FEBRUARY TWO THOUSAND AND TWENTY SIX

¶4

PRESENT

¶5

THE HON'BLE SMT. JUSTICE T.MADHAVI DEVI

¶6

COMPANY PETITION Nos: 41 215 271 of 2O14 45&115of2015 135 150 & 157 ol 2016

¶7

ln the matter of Companies Act, 1956 AND

¶8

ln Matter of M/s VMC Systems Limited

¶9

COMPANY PETITION No.41 of 2014

¶10

Between:

¶11

Ar1/s. Micro Plastics Pvt Ltd.,^170/'1 , Sy.No.330/3, Subharam^{lndustrialEstate,} Ivlarsur lr/larg, Kasaba Hobli, Anekal Taluk, Bangalore^{- 562106,}

¶12

Rep. by its ltrlanaging Director, Vilendra Babu.^N.

¶13

...Petitioner

¶14

AND

¶15

M/s Vlr/C Systems Ltd, # 6 3-879/8, 2nd^{Floor,PullaReddyBuilding,} Greenlands, Begumpet, Hyderabad,

¶16

Rep. by its lVlanaging Dtrector, lvlrs. Himabindu.

¶17

...Respondent

¶18

Company Petrtion Under Section^a33@), 34,439^{of the CompaniesAct,} 1956, R/w Rule 95 of the Companies^{(Court) Rules,1959 praying that this Hon'ble} Court may be pleased to

¶19

i) l,I/s VIV1C Systems Ltd, the respondent^{Company be woundup in} accordance with the provisions of the Act,

¶20

ii) The offrcial Liqurdator attached to this Hon'ble^{Court be appointed as a} Liquidator of the respondent Company with all^{powers under the Act;}

¶21

iri) Pending the hearing and final drsposal of this^{petition, the official} Liquidator attached to this Hon'ble Court be^{apporntedas a Liquidator} of the respondent Company with all^{powers under the Act, and}

¶22

iv) The debt of the respondent Company of Rs 62,56,2331^(RupeesSixty Two Laks Fifty Six thousand two hundred and^{thirty three only) dueto} the Petitioner Company and^{interest there on, be recovered pursuant to} the winding up proceed ings

¶23

l.A. NO: 5 OF 201 4(COMPA. NO: 1371 oF 20141

¶24

Petition under Rule g of Company Court Rules c aying that in the circumstances stated in the affidavit filed in support of lt,r petiiron, the High court may be pleased to suspend the orders dated 04-08.2( 14 in c.p.No.41 of 2014 consequently permit the petilioner to contest the case (,r f-nerits.

¶25

Counsel for the Petitioner: Sri S.M. Subhan

¶26

Counsel for the Respondent: Mr. N. Vinesh Raj

¶27

COMPANY PETITION N o.215 ol 2014

¶28

Between:

¶29

wealthtree Advisors Private Limited, Ground floor, Japa r ara, 261-c, centrar Avenue Road, Chembur (East), Mumbai, 4OOO71, Maharash.r I Represented by its Director Mr. Venkataraman Srinivasan

¶30

AND

¶31

...petitioner

¶32

vMc systems Limited, 6-3-879/8, Greenrands, Begumpet. r vderabad 500 016, Telangana, Represented by its Ir,4anaging Director.

¶33

... Respondent

¶34

Company Petition under Section 433(e) R/w Sections z: 1(1)(a) and 439 of the Companies Act, 1956. praying that this Hon'ble Court may I) ,pleased to.

¶35

a) that the Respondent Company VMC Systems t- mited having its

¶36

registered office at 6-3-879/8, Greenlands, Begumpet. l.i tTerabad 500 016, Andhra Pradesh be wound up by and under the direr;tr, rrs of this Hon'ble Court under the provisions of the Companies Act, 1gs(j

¶37

b) that the Official Lrquidator, High Court, Hyderabad or ome other fit and proper person be appointed the Liquidator of the Re; ) lndent Company with all powers under the provlsions of the Companre,s \ct,1956 includ ing to take charge of the assets, books of account an(l properties of the Respondent Company;

¶38

c) that pending the hearing and final drsposal of the o., sent Petition, the Official Liquidator attached to thrs Hon'bte Court be; a ppointed as the Provisional Liquidator of the Respondent Company to I rke charge of the assets, books of account and propertres of the Responc rnt Company with all powers under the provisions of the Companies Act, 1S i6;

¶39

d) that pending the hearing and final disposal of the yrir sent Petition, the Respondent Company VMC Systems Limited be re:;tr rrn ed by an order and injunctron of this Hon'ble Court, from dealing wit or alienating or disposing of or creating third party interest or righti rn a ry of its assets in any manner including alienation, sale, mortgage, lease. _- (;.;

¶40

e) for ad-interim reliefs in terms of prayeis (c) and ( l) above for the Petitioners' costs of and incidental to the petition; and ) for such further

¶41

and other reliefs as the nature and circumstances of thr_. r rse may require.

¶42

l.A. NO: 2OF ZO14(COMPA. NO: 1213 0F 2014t

¶43

Petition under Section 450 of the Companies Act 1956 R/w Rule 9 of Company Court Rules, 1959 praying that in the circumstances stated in the affidavrt filed in support of the petition, the High Court may be pleased to pending the hearing and final disposal of the present Petition, the Official Liquidator attached to this Hon'ble Court be appointed as the Provisional Liquidator of Respondent Company VMC Systems Limited to take charge of the assets, books of account and properties of Respondent Company VMC Systems Limited with all powers under the provisions of the Companies Act,^'1 956.

¶44

Counsel for the Petitioner: Sri T. Bala Mohan Reddy

¶45

Counsel for the Respondent: Mr. N. Vinesh Raj

¶46

COMPANY PETITION No.271 ol 2014

¶47

Between:

¶48

Solitz Corporation, a company incorporated under the laws of Japan, having its regrstered office at 1-'l , Uchisaiwaicho, 2-Chome, Chiyoda-Ku, Tokyo 100-869'l , Japan

¶49

Represented by its power of attorney holder [\4r. Naoki Kazama

¶50

...Petitioner

¶51

AND

¶52

M/s VMC Systems Limited, having its registered office at 6-3-879/8, 2nd floor, Green lands, Begumpet, Hyderabad - 500 016, Andhra Pradesh.

¶53

...Respondent

¶54

Company Petition under Section 433.434 and 439 of the Companies Act, '1956, praying that this Hon'ble Court may be pleased to.

¶55

i) That the Company VMC Systems Ltd. be wound up under the orders and directions of this Hon'ble Court under the provisions of the Companies Act,^.1956, and

¶56

ri) That this Hon'ble Court be pleased to appoint Official Liquidator of this Hon'ble Court as Liquidator of the Company, VMC Systems Ltd. with all necessary powers under the provisions of the Companies Act, 1956 to take charge of the assets, properties, business affairs, bank accounts etc. of the Company andl or to conduct rts affairs in the course of the winding up and to distribute its assets in accordance with applicable law and exercise all powers under the provisions of the Companres Act, 1956, and

¶57

iri) Pending hearing and final disposal of this petition, the Official Liquidator be appointed as Provisional Liquidator over and in respect of all assets and properties of the Company under the Companies Act, with all powers under the Companies Act; and

¶58

iv) Costs of and/or incidental to this Petition be paid by the Company and/or be realized as a claim against the Company; and

¶59

v) Such other order and further relrefs as may be deemed^just and expedient in the facts and circumstances of the case may be granted.

¶60

¶61

l.A. NO: 3 OF 2014(COMP A. NO: 1547 0F 20141

¶62

Petition under Section 45 0 of the Companies (Court) lules, 1959 praying that in the circumstances stated in the affidavit filed in supp,r t of th e petrtion, the High Court may be pleased to appointed Official Liquidator r f this Hon,ble Court as Liquidator of the Compan y VMC System S Ltd with all r )cessary powers of the Companies Act, 1956 and to charge of the assets tr r:perties, business affairs, bank accounts etc of the Company and/or to conc I ct its affarrs rn the course of the winding up and to distribute its assets in a ;:ordance with the applicable '19s6 law and exercise all powers under the provisions o the companies act,

¶63

l.A. NO: 4 OF 2014(COMpA, NO: 1s48 OF 20141

¶64

Petition under Rule O of tnE.omffiresfCourt) Rules 959 praying that in the circumstances stated in the affidavit fired in support of t1 ) petition, the High Court may be pteased The officiat tiquidator o" "ppoiii"o;. , ,,;;l;;;t'r,qJiJrt",. over and in respect all of the assets and prop..ti". of the ( orprny rni"ilf," companies act, with all powers under the Company Act.

¶65

l.A. NO: s 9F 2014(COMpA. No: 1s49 OF 20141

¶66

Petition under order 39 Rure 1 & 2 R7;Rure g of the )ompanres (court) Rules, .^{1959 praying that in the circumstances} li"t"o in * 3 affidavit fired in support of the petition, the High court may be preased to rant an inlunJion restrainrng the company and.the Directors,'representatives : henchmen of the Respondent Company from either directly o'. inlir"",y alien:r ng, t;;;i;;;g'o, crealing any third party rights over the aisets, properties, ricr ts and interests of whatsoever nature of the Respondent company.'^---

¶67

Counsel for the petitioner: Sri Avinash Desai

¶68

Counsel for the Respondent: Sri Vedula Srinivas

¶69

COMPANY PETITION No.45 of 2015

¶70

Between:

¶71

M/s Economic Law practice, having its office at 10g - A Wirc Daramar rowers, Nanman Point, Mumbai _ 4OO OZ1 Represented by its Associate partner, Mr. Amit Vyas

¶72

AND ...petitioner

¶73

M/s.Vlt/C Systems Ltd.., having its registered office at 2.0 , oor, #6_3_g79/8, Green Lands, Begumpet, Hyderabad - 500 016

¶74

...Respondent

¶75

Company Petition under Section a$@), a34 & 439(1Xb) ,f the Companies Act,^'1956, R/w Rute SS 1t fr.e Co.prny'16ouiy irr". 1951) prayrng rhat this Hon'ble Court may be pleased to.

¶76

a) Respondent,^{M/s. VMC Systems Lrmited,be} -ordered^{to be woundup by} this Hon'ble Court^{underthe provisionsof the Companies Act' 1956;}

¶77

b) The Official^{Liquidator be appointed as the Liquidator of the respondent'} M/s. VMC Systems^{Limited,withnecessarypowers under the Companies} Act, 1956;

¶78

c) Pending hearing^{and frnal disposalof the petition,the official liquidator,be} ' appointld as th"e provisional liquidator of the assets, properties and income asalsothebusinessoftherespondent,l\4/sVIVICSystemsLlmited;and

¶79

d) The costs and^{incidental expenses of this application be paidout of the} assets of the respondent^{to the petitioner'}

¶80

l.A. NO:1 OF 201S{COMPA.^{NO:396.OF2015)} ffiompanies (Court) Rules 1959 and^Sectron 450ofCompaniesAct,lg56prayingthatinthecircumstancesStatedinthe affidavit filed in support^{of the petition, the High courtmay be pleased "to appoint} ihe Official Liquidator^{as the Provisional Liquidatorof the assets, propertiesand} income as also the^{business of the Respondent}

¶81

Counsel for the^{Petitioner:Sri S' Vivek Chandra Sekhar}

¶82

Counsel for the Respondent:^{Sri VedulaSrinivas}

¶83

COMPANY PETITI^{ONNo.'l 15 of 20'15}

¶84

Between:

¶85

frlrrtny Suravarapu, F-202, Akme Harmony Apartments, Belandur Road' Sarjapur Ring Road, Bangalore^{560 103.}

¶86

...petitioner

¶87

ANO

¶88

nd Floor. Greenlands, BegumPet, tvl/s VMC Systems^{Limited,6-3-87918} '² Hyderabad - 500 016 ... ResPondent

¶89

company Petition^{under Section a33(e) & (fl, a3+(1)(a)& (c) & a39(1)(b) of} the Companies^{Act, 1956,R/w Rule 95 of the Company (Court) Rules' 1959} praying that this Hon'ble^{Court may be pleasedto}

¶90

a) That the Company^{be wound up by and under the Order' directronsand} sl,pervision of this^{Hon'bleCourt under the provisrons of the Companies Act'} 1956;

¶91

b) That the Official^{Liquidator, High Courtat Hyderabad be appointedLiquidator} of the Company^{with all powers underthe Companies Act' 1956;} "1^{inrr pending the hearing and finaldisposat of this Petition, the official} Liquidatoi, Higl-i^{Court,Andhra Pradesh be appointedas the Provisronal} Liquidator of t6e^{Companyand all its assets, properties, affairs and books etc'} with all powers under^{the Companies Act, 1956,}

¶92

d) Th;t^{pendingthe hearing and final disposal of this Petition an order of} injunction be issJed^{restrainini the company by itself its Directors, servantsand} agents from in any^{mannereither directly or indirectly;} i"Dealing with oi^{disposing of, alienating, transferringor parting with possesston} of any of tts^{movable and / or immovablepropertles;}

¶93

ii. Operating upon or withdrawing any amounts from the Ba I I Accounts; iii. obtaining and I or receiving any loan from Banks, financ: I instilutions, finance companies and I or from any party;

¶94

e) For ad-interim relief in terms of prayer clause (c) and (d) : cove; and f) For costs of thrs Petition

¶95

l.A. NO: 1 OF 2015 (coM PA. NO: 793 0F 2015)

¶96

Petition under Section 450 of Companies Act, 1956 Fi ,t, Rule g and ,106 of Company Court Rules^'1959 praying that in the circums t rrces stated in the affidavit filed in supp ort of the petttion, the High Court may : : pleased to appoint the Official Liqurdato r pending disposal of the Company p€t lron attached to this Hon'ble Court as the provisional Liquidator of the Responde rt Company with all its power under Section 457 of the Companies Act, j 956.

¶97

l.A. NO: 2 OF 2015(COMP A. NO:794 oF 201s)

¶98

Petition under order 3g Rule 1 of the CPC R/w Rule of Company Court Rules, 1959 praying that in the ci rcumstances stated in 're affidavtt filed in support of the petition, the High Cou rt may be pleased to (a) The Hon'ble Court may be pleased to pass an crder of rnJunction restraining the company by itself its Directors, servan t: and agents from in any manner either directly or indirecfl v

¶99

(i) Dealing wrth or disposing of, alienating, transfer rng or parting with

¶100

possession of any of its movable and lor immovablt: c roperties, and

¶101

(iii) (ii) Obtaining and/or Operating upon or receivinwithdrawing any amounts from g any loan from Banks, tlf rancial Ba nk Accounts;institutions, finance companies and/or from any party

¶102

Counsel for the Petitioner: M/s. K. Mamata Choudary

¶103

Counsel for the Respondent: Mr. N. Vinesh Raj

¶104

COMPANY PETITION N o.'l 35 of 2016

¶105

Between:

¶106

M/s L & T lnfrastructure Financg-lgmpany Ltd, A Comp; ry regrstered under the provisions of cornpanies Act, 'r956, bearing crN.U67190 (2od6plcossszz having its registered office situated at n/lount Foonamallee f .rA VrnrpaXfa,n Chennar600089.

¶107

and corporate office at 38, 2"d Froor, raxmi towers, ,,G,, B rck, prot No c_25, Bandra Kurra Complex, Bandra (E), Mumbai 400051. Rep by. R ShamaRao,.S/o N Ramakrishna Rao, Age: 35 ye ars, Occ Assistant cgleral l/anager _ Wholesale Business Group *t 3SSR^' I rad No aS-lOor" HDFC Bank, Jubitee Hills Hyderabad _ 500 033

¶108

AND

¶109

,..petitioner

¶110

M/s VMC Systems Limited, (Formerly known as Vupp,; lspp;11_.,, Magnetic Components Limited) A Company registered unOe.. tf," pr;", :;;; ;i C";;,;;;". Act, 1956 bearing crN: u29199Ap1597ptcoiailt having is regisrered office situated at,6-3,879/8, Greenlands, Begumpet, iyOeraOaO, 5C ( -.16

¶111

¶112

and also at Plant Address: Sy No 1/1 , plot 23lA; lmarathKancha, Hardware Park, Raviryata (V), t/aheshwaram (lr/), Ranga Reddy District _ 500005 State of Telangana. I-"p.^{UV its tr/lanagingDirector, V Himabindu,H.No.16-.1 .l_19,} Sateem Nagar, l\ilalakpet, Hyderabad-500037.

¶113

... Respondent

¶114

Company Petition under Section a33(e) (f), 434 1(a) & a39(1)(b)(C) of the Companies Act, 1956, R/w,Rule g5 of the Company (Court) Rules^'iOSO'p[ying that this Hon'ble Court may be pleased to.

¶115

(a) Directing that the Respondent company i.e., I\irls VIr4c Systems Limited, be wound up by under the provrsrons of the companies Act, .1956, under the direction, supervision of this Hon,ble Court:

¶116

(b) Directing that the official Liquidator attached to this Hon,ble court be appointed as Liquidator of the Respondent company i.e., M/s vN/c systems Limited, with all the necessary powers under the compinies Act, 1956; ani .(c)^{Directingthat pending hearing and fjnal disposal of the petition,} the official Liquidator, be appointed as the provisional Liquidator of the as*et., properties and income as also the business of the said Company,

¶117

ld)^Directing that^pending the hearing and final disposal of the petrtion the Respondent company, its Directors, officers, servants and agents be restrained from in any manner whatsoever either direcfly or inJirecfly atienating encumbering, dealing with, transferring or otherwise disposing oif any of the Assets of the Respondent Company,

¶118

(e) Directing interim and ad-interim reliefs in terms of prayer (b) to (d)

¶119

(f) Directing cost of the Petition to be provided for to the petitioner.

¶120

(g) And Pass such further and other reriefs as the nature and circumstances of the case may require.

¶121

l.A. NO: 2 OF 2016(cOMPA. NO : 541 OF 2016)

¶122

Petition under Sect ion 450 of the Companies Act, 1956 R/w Rule g of the Company (Court) Rules, .1 959 praying that in the crrcumstances stated in the affidavit filed in support of the petition, the High Court may be pleased to pass an order directing that pend ing hearing and final disposal of the petition, that the Respondent Company i.e IM/s Vtt/lC Systems Limited by itself or by its directors, servants, agents, officers, employees or otherwise be restrained from disposing of, or a Iienating, transferring, encumbering or parting with the possession or creating any third-party rig hts in respect of the assets of the said Company in any manner whatsoever.

¶123

l.A. NO: 3 OF 2016 (C OMPA. NO: 5420F 20161

¶124

Petition under Section 1 51 CpC praying that in the circumstances stated in the affidavit filed in support of the petiti on, the High Court may be pleased to pass an order directrng that pending heari ng and final disposal of the petition, the Official Liquidator, be appointed as the Provisional Liquidator of the assets, properties and income as also the bus iness of the Respondent Company i.e M/s VtulC Systems Limited.

¶125

l.A. NO: 4 OF 2016( COMPA. NO: 1657 OF²⁰¹⁶⁾

¶126

Petition under Rule 21 Rlw Rule 9 of the Companie::^{Court Rules,1959} praying that in the circumstances stated in the affidavit^{fr r} d^{in support of the} petition, the High Court may be pleased to^permit Ankur Satr^{o i.e-, the deponent} herein, the constituted Attorney of the Applicant/Petitioner^{l( 'epresent in all the} proceedings in the above company petition.

¶127

Counsel for the Petitioner: Sri S.V.S.S.Sivaram

¶128

Counsel for the Respondent: Mr. N. Vinesh Raj

¶129

COMPANY PETITION No.150 of 2016

¶130

Between:

¶131

M/s AMAX TECHNOLOGIES^(P) LTD., BLK^{35, 03-0:r Marsiltnglndustrial} Estate Road No, 3, Singapore^{7 39257} , Rep- by^{its Authoriz: 1 Signatory} Mr. PRAMOD DlXlT,

¶132

..-Petitioner

¶133

AND

¶134

VMC SYSTEMS LTD., 46-3-879/8, 2nd floor, Greerr^{Lands,Begumpet,} Hyderabad-500016, Rep. by its Managing Director, Ms. VUPPALAPATI HIMA BINDU Also at

¶135

VMC SYSTEMS LTD., Plot No. 23A, Hardware Park, Il^{rrvey No.} l/ll^lvlarat, Kancha, Raviryala Village, Off Shrisailam Highway,^{lVla leshwaram lVlandal,} Ranga Reddy District, Telangana State, lndia Rep. by its Managing Director, Ms. VUPPALAPATI HIMA BINDU

¶136

...Respondent

¶137

Company Petition under Section a33(e) & 434 of the^(l rmpanies^{Act, 1956,} R/w Rule 95 of the Company (Court) Rules, 1959^praying t I tr this Hon'ble Court may be pleased to:

¶138

a) VMC SYSTEMS LTD., a company incorporated undr: lndian Companies Act,1 956 having its Regd Office at 46-3-879/8 , znd^f :or, Green Lands, Begumpet, Hyderabad-500016, the respondent company h: ein be wound up in accordance with the provisions of the Companies Act, 1956, b) That the Official Liquidator of this Hon'ble Court, or sorre other fit and proper person be appointed as Liquidator of VMC SYSTEMS LTD., ' rrth all powers under the provisions of the Companies Act, 1956;

¶139

c) That pending the admission and hearing and final dispo:; I of the Petition, the Official Liquidator, attached to this Hon'ble Court or somc: c,ther fit and proper person be appointed Provisional Liquidator VMC SYSTEMS .TD,, with all powers under the provisions of the Companies Act, 1956;

¶140

d) That pending the admission hearing and final disposzrl ,:f the Petition, the Company by its officers, directors, servants and agents be rt stra ined by an order and injunction of this Hon'ble Court from in any manner dis r >sing off transferring

¶141

¶142

or encumbering, alienating or parting with possession of the Assets of the Compan y,

¶143

e) lt is prayed that this Hon'ble Court may be pleased to dispense with the filing of the original material documents 4-6, A-7 and A-8 accompanying with this petition at this stage in the interest of justice and to pass such other order or orders as this Hon'ble Court shall deem fit and proper in the circumstances of the CASC;

¶144

f) To receive the documents as listed in the Affidavit and permit the Petitroner to mark them as Exhibits 1 to 1'1 in the interest of Justice and pass such other order or orders as this Hon'ble Court may deem fit and proper in the circumstances of the case.

¶145

g) For ad-interim reliefs in terms of Prayers (C) and (D) above;

¶146

h) For costs; and

¶147

i) for such further and other reliefs as the nature and circumstances of the case may require.

¶148

l.A. NO:3 OF 2016(COMPA. NO: 612OF 2016) Petition under Rule 177 and 9 of the Company (Court) Rules, 1959 praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased the Official Liquidator of this Hon'ble Court, or some other fit and proper person be appointed as Liqurdator of VMC SYSTEMS LTD. with all powers under the provisions of the Companies Act, 1956, in the interest of Justice.

¶149

l.A. NO: 4OF 2O16rcOMPA. NO:613 OF 2016

¶150

Petition under Rule 177 and 9 of the Company (Court) Rules, 1959 praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased to pending the admissron and hearing and final disposal of the Petition, the Official Liquidator, attached to this Hon'ble Court or some other fit and proper person be appointed Provisional Liquidator VMC SYSTEMS LTD., with all powers under the provisions of the Companies Act, '1956, in the interest of Justice.

¶151

l.A. NO: 5 OF 2016(COMPA. NO: 514 OF 2016

¶152

Petition under Rule 177 and 9 of the Company (Court) Rules, 1959 praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased to pending the admrssion hearing and final disposal of the Petition; the Company by its officers, drrectors, servants and agents be restrained by an order and injunction of this Hon'ble Court from in any manner disposing off, transferring or encumbering, alienating or parting with possession of the Assets of the Company.

¶153

Counsel for the Petitioner: Mr. C.S.N. Raju

¶154

Counsel for the Respondent: Mr. N. Vinesh Raj

¶155

COMPANY PETITION No.157 of 2016

¶156

Between:

¶157

M/s L & T FINCORP LIMITED, A Company registered under the provisions of Companies Act, 1956, bearing CIN:U6591OMH1997PLC108179 having its registered office situated at, L & T House, N [t/l lVlarg, Ballard Estate, lVumbai400001

¶158

and corporate office at 34, Froor, j't Froor, Laxmi rowers G Brock prot No. c 25, Bandra Kurla Complex, Bandra (E), tr/umbai 400 051 _ I rdia Rep by l\ils Vinda Wagh, Head_lndustrial Finance Groult I & T Fincorp. L & T Infrastructure Finance Co. Ltd, 3'd Floor, Brindavan, plot Jc. i 77, CST RoaO, Kalina Santacruz East, IVumbai 400 09g

¶159

...petitioner

¶160

AND

¶161

M/s VMC Systems Limited, (Formerly known as Vu I ralamritha [\4agnetic Components Limited) A Company registered under the prc,r s;ions of Companies Act, 1956 bearing CtN. U29199Ap1997pLC026477 havinc ts registered office situated at, 6-3-879/8, Greenlands, Begumpet, Hyderabad, I 10016 and also at: Plant Address:

¶162

Sy.No.1/1 , Plot 23tA lmarathKancha, Hardware p.. -k, Raviryala (V) Maheshwaram (N/), Ranga Reddy District _ 500005. State of Telangana.

¶163

Rep: by its Managing Director, V. Himabindu,

¶164

H.No 16-1'1-19, Sateem Nagar, [\4alakpet, Hyderabad_50001].

¶165

... Respondent

¶166

Company Petition under Section a33(e)(f), 34 1(a) & ll9 (1)(b)(C) of the Companies Act, 1956, R/w Rule 95 of the Company (Court; lules, 1959 praying that this Hon'ble Court may be pleased to:

¶167

(A) Directing that the respondent company i.e., M/s VMC S ystems Limited, be wound up by under the provisions of the Companies A,; t SSO, undei the direction, supervision of this Hon,ble Court;

¶168

(B) Directing that the officiar Liquidator attached to thi:; Hon,bre court be appointed as Liquidator of the respondent company i-e., //s Vtrrrc sy"t"r. Limited, with all the necessary powers under the Companies ,\ ;1., 1g56; ani .(c)^{Directingthatpending hearingand finaldisposalof} the etition, the official Liquidator, be appointed as the provisional Liquidator of the ,assets, properttes and income as also the business of the said Company

¶169

(D) Directing that pending the hearing and final disposal r; the petition the respondent company, its directors, officers, servants and ac 3nts be restrained from in any manner whatsoever either direcfly or in, irecfly arienating, Assets encumbering, of the respondent dearrng with, company.transferring or otherwise dispos ng oit "ny oi t"

¶170

(E) Directing interim and ad-interim reliefs in terms of prayer rt ) to (d) (F) Directing cost of the Petition to be provided for to the petit < ner.

¶171

l.A. NO: 1 OF 2O16(C OMPA. NO: 6 72 0F 20161

¶172

Petition under Section 450 of the Companies Act, 1953 tt/w Rule 9 of the Company (Court) RLrtes, 1959 praying that in the circumst,l r()es stated in the affidavit filed in support of the. petition, the High Court may be ,leased to pass an order d irecting that pendi ng hearing and final disposal of th, petition, inrt tn" Respondent Company i.e lM/s VMC Systems Limited by itset. :i by its directors, servants, agents, officers, employees or otherwise be restra r:d from disposing of, or alienating, transfer ring, encumbering or parting with 1e po.rurrion or creating any third-party rig hts in respect of the assets of the s,: J Company rn any manner whatsoever.

¶173

l.A. NO: 2 OF 2016(COMPA. NO: 673 OF 2016)

¶174

Petition under Section 450 of the Companies Act, 1956 R/w Rule 9 of the Company (Court) Rules, 1959 praying that in the circumstances stated in the affidavit filed in support of the^petition, the High Court may be pleased to pass an order directing that^pending hearing and final disposal of the^petitron, the Official Liquidator, be appointed as the Provisional Liquidator of the assets, properties and income as also the business of the Respondent Company i.e IV/s VIVC Systems Limited.

¶175

l.A. NO: 3 OF 2016 COMPA. NO: 1656 OF 2016

¶176

Petition under Rule 21 R/w Rule 9 of the Companies Court Rules, 1 959 praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased to permit Anirudh Asopa i.e., the deponent herein, the constituted Attorney of the Applicant/Petitioner to represent in all the proceedings in the above company^petition.

¶177

Counsel for the Petitioner: Sri S.V.S.S.Sivaram

¶178

Counsel for the Respondent: Mr. N. Vinesh Raj

¶179

The Court made the following: COMMON ORDER

¶180

IN THE HIGH COURT FOR THE STATE OF^T]E I,ANGANA AT HYDERABAD

¶181

THE HON'BLE SMT. JUSTICE T. MADHA\ I DEVI

¶182

COil{PANY PETITION Nos.4 l 215 271^o1 _ !014; 45 & 115 of2015; 135.150 & 157 of201 i

¶183

DATB: 04.02.2026

¶184

C.P.No.4lof2Ol4
Befwcen:
M/s.MicroPlasticsPvt.[-td.		...Petitioner
	AND
M/s.VMCSysternsLtd		Respondent
C.P.No.215of2014
Between:
WealthtreeAdvisorsI']rivateLi	mited	...Petitioner
	AND
',/MC^SystemsI-imited.		Respondent
C.P.No.27lof2014
Between:
SojitzCorporatior.r	AND	...Petitioner
M/s.VMCSysten'rs[.imited.		...Respondent
C.P.No.45 of2015
Between:
M/s.EconornicLawPractice		...Petitioner
	AND
M/s.VMCSystemsLtd		..Respondent

¶185

	2	IMIJJ C.P.Nos.4l.215.27lol-201,1: 45.115of20l-!: li5.150&157oi20l5
C.P.No.Il5of2015
Between:
MuftlrySuravarapu		..Petitioner
	AND
M/s.VMCSystemsLimited.		...Respondent
C.P.No.135of2016
Between:
M/s.L&TInfrastructureFinan	ceCompanyLtd. AND	...Petitioner
Mis.VMCSystemsLimited.		..Respondent
C.P.No.l50 of2016
Betrveen:
M/s.AmaxTechnologies(P) Lt	d.	..Petitioner
	AND
VMCSysternsLtd.		..Respor-rdent
C.P.No.157of2016
Behveen:
M/s.L&TFincorpLimited.	AND	...Petitioner
M/s.VMCISystemsLimited.		..Respondent
COMI	TTONORDBR
TheseCompany Petitio	ns arefiledseek	ing^windingupof^the
respondent-companyandsettle	mentofthedues	ofthepetitioners.

¶186

TMDJ C P.Nos J .2t5.27loll0l4: 45. ll5 ot 2015; li; 150 & l5'1 of20l6 3

¶187

Leamed counsel for the^{respondent submI} e:d that the respondent-company^{has alreadybeen dissolved by an} 'r der passed by the National Cornpany^{t.aw Tribunal(NCLT)dated ](t} )2.2024 in IA (IBC) 52812022 &:- Cont.A(lBC)³¹²⁰²³ in CP(IB) No.677l7lL{DBl20l8.^{In vierv of the same,the pr:} cnt company petitions have become infructuous.

¶188

A copy of the order dated^{20.02.2024 in tA (lB(} )^{s2812022 &} Cont.A(IBC) 312023^{in CP(IB) No.677l7/HDB/2018} ras also been placed betbre this Courl.

¶189

In view of the above submissions,^theseCompar ,, Petitions are closed. Flowever, the^{petitioners are at liberty to avail} ury altemative remedy available to thenr^{in accordancewith law.}

¶190

SI) - K.SRINIVASA RAO JOINT REGISTRAR

e.,".',.

//TRUE COPY//

To,

sEcTtoN oFF|CER

1 . The -National Company Law Tribunal, Hyderabad Bench llyderabad. Office at 1'' floor corporate. Bhawan, Nagole, eanJLguoa T raitiannaram -virfugu Hayathnagar Ailandar, Ranga Reddy District relangar z State pi" coo" Loo 680

¶196

One CC to Sri S.V S S.Sivaram, Advocate [OPUC]

¶197

One CC to Mr. N. Vinesh Ra1, Advocate fOpUCf

¶198

One CC ro Mr. C S.N Raju. Advocate fOpUCi-

¶199

One CC to tvl/s. K rvlamaia ChouOary, nOro.jt" tOpUCl

¶200

One CC to Sri Vedula Srinivas, na*'.rt" iOplti 7. one CC to Sri Avrnash Desai, one CC to Sri Avrnash Desai, CC to Sri Avrnash Desai, to Sri Avrnash Desai, Sri Avrnash Desai, Avrnash Desai, Desai, AdvocateidEuil

¶201

one CC to Sri Avrnash Desai, one CC to Sri Avrnash Desai, CC to Sri Avrnash Desai, to Sri Avrnash Desai, Sri Avrnash Desai, Avrnash Desai, Desai, AdvocateidEuil B. One CC to Sri S Vrvek Chandra Sutnrr,'nOro".ate [Optj )] 9. One CC to Sri S.tril. Subhan, nuro."i" iOpU'CJ'

¶202